Bank of America Reviews in Dallas-Fort Worth, TX Area

Pros

The financial and other compensation benefits are very sufficient. i enjoy working and learning from the people at this firm.

Cons

There is a lot of uncertainty regarding the financial and operational health of this firm and my current employee status.

Advice to Senior Management

Provide more information to the employees regarding the future of the Company an its employees. Better reviews and information about employees performance and expectations.

Pros

work life balance is super

Cons

Raises and bonuses we not across the board it was hit or miss for non-upper level management. Yearly cuts are coming that is a fact and it puts the work force in fear kills moral

Pros

The experience, networking, opportunities to grow professionally, learning potential.

Cons

Pay is not that great to compared companies, Training isnt good, Programs are not good

Advice to Senior Management

Work together to get on one accord instead of each line of business doing something totally different.

Pros

- chance to work from home.
- always can move into different positions within the company.
- locations are always good.

Cons

- can be pigeon toed into a position
- sometimes be are promoted into position without being qualified
- always laying off, especially after law suits

Pros

Great time off, family and work life balance, great program to work from home.

Cons

Senior managers do the least to get by and then wonder why the Bank gets in trouble for how it services mortgages. It is hard to institute change at the bank.

Too many agendas and too many senior managers that get paid really well but are unwilling to take chances and bring about real change because they dont want to be blamed if things go south.

Advice to Senior Management

Instill leadership and integrity training in senior managers.

Pros

Was a solid company to work for. Huge corporation, so need to know that going into this company. Try as they may, in the end, you are still a number that will hopefully generate income for the company.

Cons

Not so solid anymore. No idea when they will lay-off people. Mortgage industry is always going up and down, but in recent years it is worse. Worst part is, there is no way to know when will get downsized.

Advice to Senior Management

Actually listen to associates. An annual survey is done, but the same issues come up because management does more to plan for following up on survey results than actual follow up.

Pros

Not too many, but the benefits are really good. It really depends on the department that the employee is in.

Cons

Favoritism toward those who make it a point to support wrong idealogy
Promotions are difficult to obtain
Communication between senior management and staff can be sketchy

Advice to Senior Management

If there are news reports about potential layoffs, address the white elephant in the room, as opposed to ignoring it.

Pros

Well-established company
Good Pension plan
Good employee discounts
Reasonable financial products

Cons

So many uneducated employees (e.g. people who don't seem to be able to communicate in writing with correct punctuations, grammar and spelling), not only in the front-line staff, but also in middle-management positions, which makes it rather discouraging.

It seems like a lot of semi-critical positions don't require a degree to get hired, when they truly should. People are put in critical positions, when they don't have what it takes, and they can only relate to their own little part of the process vs. looking at the big picture. Junior managers are not well trained and often don't have a clue what they are doing. I have reported to several managers with no management skills, no communication skills, and no comprehensive knowledge of the job function.

Training process is very inefficient in general, not only for new managers, but for new employees as well, which results in employees with limited knowledge relative to their job function and unfamiliar with the details/reasons behind what they do every day, and that is a total risk issue.

Although it is a big company, and you'd think you'd have a lot of opportunities to move around, I haven't been able to get into the right position within, and I'm starting to think it may just be because I don't know the right people; otherwise, I have several years of internal experience in addition to a Finance degree, which should be enough to get a descent position, but apparently not.

Advice to Senior Management

1. More efforts should be put towards recognizing and retaining top tallent and quality workers, other than just relying on hiring managers to get the right people in.

2. Merit raises are the primary incentive to retain top talent, which we do not see here in B of A.

3. There has to be a mandatory/across the board new-hire training, that covers not only the big picture as far as variety of functions handled by the bank, but also training on the primary systems used by the employees to establish some fundamental/basic knowledge for each new hire, before they enter their individual role. There used to be one with Country-wide, and it was a very helpful training, but it is no longer being practiced. Now each department handles their own training, which isn't necessarily standard or efficient.

4. I think when new managers are put in charge of a team with no prior related experience, there has to be a probation period for them, after which they have to pass a knowledge assessment test to prove they are up to speed on the team's job function and they have acquired the required amount of knowledge for being able to manage that team. Currently they are given endless chances, and in most cases - after many years of being in a team manager position - they still don't have a clue what some of their team members do exactly. They mainly get paid to approve their team's time-cards and time-off requests, so their absence would really have no effect on the team's functionality and business continuity. This is very inefficient for the company.

Pros

Very time flexible except during the holidays.
Great pay for what you do.
Excellent work environment.

Cons

Information not always consistent.
Kept in the dark until last minute.

Pros

Benefits and time off is great.

Cons

Ran this place like a slave ship. Call center environment. Never had a moment before another call came through. Always was expected to take one after the other constantly no matter what the problem or issue was. EXTREMELY STRESSFUL experience. Was supposed to be an expert in all things mortgage but was labeled collections associate. People were getting paid $12 hr to manage customers lives and mortgages. What a joke. No opportunity for advancement. If you quit or get fired, there are a million other unemployed people that they will stick on the phone.

Advice to Senior Management

Run your company better and have it staffed appropriately in order to handle volume and increase the pay to the standard.